Korea's Annual Trade Volume Recovers to US$1 Trillion

  • By Kum Won-sub

    December 15, 2017 12:31

    Korea's annual trade volume has returned to over US$1 trillion for the first time in three years and the country will account for three percent of global trade this year for the first time.

    The Ministry of Trade, Industry and Energy and the Korea Customs Service said Korea's annual trade volume surpassed the $1 trillion mark as of Thursday.

    Korea's annual trade volume crossed the milestone for the first time in 2011 and stayed above $1 trillion until 2014. Exports in the first 11 months of this year reached a record $524.8 billion, up 16.5 percent from a year earlier.

    Last year, the U.S., China, Germany, Japan, France, the Netherlands, Hong Kong and the U.K. were the only countries whose trade volume surpassed $1 trillion. An official at the ministry said Korea is expected to rank ninth in the world this year.

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